Lines of Businesses (Tables)

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Contribution of Segments to Overall Profitability

The following consolidating schedules show the contribution of our businesses to our overall profitability.

For the quarter ended March 31, 2016	Investment Management				Investment Services			Other			Consolidated
(dollar amounts in millions)
Fee and other revenue	$	812		(a)	$	2,030		$	129		$	2,971		(a)
Net interest revenue	83				679			4			766
Total revenue	895			(a)	2,709			133			3,737			(a)
Provision for credit losses	(1		)		14			(3		)	10
Noninterest expense	679				1,808			140			2,627			(b)
Income (loss) before taxes	$	217		(a)	$	887		$	(4	)	$	1,100		(a)(b)
Pre-tax operating margin (c)	24		%		33		%	N/M			29		%
Average assets	$	29,971			$	273,289		$	61,294		$	364,554

(a) Both fee and other revenue and total revenue include the net income from consolidated investment management funds of $1 million, representing $6 million of losses and a loss attributable to noncontrolling interests of $7 million. Income (loss) before taxes is net of a loss attributable to noncontrolling interests of $7 million.

(b) Noninterest expense includes a loss attributable to noncontrolling interest of $2 million related to other consolidated subsidiaries.

(c) Income before taxes divided by total revenue.

N/M - Not meaningful.

For the quarter ended Dec. 31, 2015	Investment Management				Investment Services			Other			Consolidated
(dollar amounts in millions)
Fee and other revenue	$	915		(a)	$	1,957		$	89		$	2,961		(a)
Net interest revenue	84				664			12			760
Total revenue	999			(a)	2,621			101			3,721			(a)
Provision for credit losses	(4		)		8			159			163
Noninterest expense	713				1,831			146			2,690			(b)
Income (loss) before taxes	$	290		(a)	$	782		$	(204	)	$	868		(a)(b)
Pre-tax operating margin (c)	29		%		30		%	N/M			23		%
Average assets	$	30,982			$	281,766		$	55,842		$	368,590

(a) Both fee and other revenue and total revenue include the net income from consolidated investment management funds of $11 million, representing $16 million of income and noncontrolling interests of $5 million. Income (loss) before taxes is net of noncontrolling interests of $5 million.

(b) Noninterest expense includes a loss attributable to noncontrolling interest of $2 million related to other consolidated subsidiaries.

(c) Income before taxes divided by total revenue.

N/M - Not meaningful.

For the quarter ended March 31, 2015	Investment Management				Investment Services			Other			Consolidated
(dollar amounts in millions)
Fee and other revenue	$	919		(a)	$	2,029		$	85		$	3,033		(a)
Net interest revenue	75				629			24			728
Total revenue	994			(a)	2,658			109			3,761			(a)
Provision for credit losses	(1		)		7			(4		)	2
Noninterest expense	732				1,863			105			2,700
Income before taxes	$	263		(a)	$	788		$	8		$	1,059		(a)
Pre-tax operating margin (b)	26		%		30		%	N/M			28		%
Average assets	$	31,361			$	287,321		$	49,729		$	368,411

(a) Both fee and other revenue and total revenue include net income from consolidated investment management funds of $21 million, representing $52 million of income and noncontrolling interests of $31 million. Income before taxes is net of noncontrolling interests of $31 million.

(b) Income before taxes divided by total revenue.

N/M - Not meaningful.